St. Paul daily globe., 1887-10-03
Personal.
HNoW ALLMEN BY THEsE pREsENTs

KNOW ALL MEN BY THESE PRESENTS: !:
Ia That we, the undersigned, have agreed
to and do hereby associate ourselves togeth-
er for the purpose of becoming incorporated
under and pursuant to the laws of the state
OF Minnesota, and to that end we do hereby
adopt and sign the following articles of in
corporation viz:
First-The name of the corporation here
by formed shall be the Sandstone ToWnsite
company, and the general nature of its bust
ness shall be the buying, owning, leasing
plating, improving. selling, mortgaging and
dealing In lands, tenements and heredita-
ments and real, personal and mixed estate in
the county of Pine and state of Minnesota
The principal place for transacting the busi-
ness of said corporation shall be the city of
St Paul, in the county of Ramsey and State
of Minnesota
Second-The time of commencement of
said corporation shall be the 9th day of
September, 1887, and the period of its con-
tnuance shall be the term of thirty years.
Third-The amount of capital stock of said
corporation shall be ten thousand QO,OOO)
dollars and shall be divided into 200 {two
hnndred) shares of the par value of fifty
(5O) dollars each and shall be paid for in
money or such other property, real or per-
sonal, as the board of directors of such cor
pOration may agree to accept in lieu of
money at the time of the issuance of said
stock.
Fourth-The highest amount of indebted
ness or liability to which said corporation
shall be at any time subject shall be five
thousand $1,000 dollars
Fifth-The names of the persons forming
TINS corporation and their places of resi-
Knowles, both residing at st. Paul, Ramsey
county, Minnesota; Fred A. Hodge and
James Hurley, both residing at Pine City,
Pine county, Minnesota.
SIxth-The government of said corporation
and the management of its affairs shall be
vested In a board of five diractors, who shall
be elected from and by the stockholders at
the annual meeting, to be held as provided
in the bylaws to be adopted, and the said di-
rectors, Immediately after their election shall
organize and elect from said stockholders a
president, secretary and treasurer. Said di-
rectors and officers shall respectively hold
their Office for the period of one year after
SAID election and until their successors are
elected and qualified. Said officers shall per-
form such duties as shall be prescribed by
the bylaws, and the office of secretary and
treasurer may be filled by the same person.
The annual stockholders meeting for the
election of board of directors, and the trans
action OF such other business as
may, properly come before it, shall
be held at the Office of said cor
poratlon at such time as the bylaws shall
prescribe, and special meetings of the stock
holders shall be held at such times and under
such rules and regulations as to notice or
otherwlse as may be prescribed by the by
laws; and at such meetings stockholders may
be represented and vote by proxy, duly ap-
pointed and at any stockholders meeting
each stockholder shall be entitled to one vote
for each share of stock held by him, and the
holders of a majority of the stock shall con-
Stltute quorum at such meetings fors the
transaction of business
The duties and compensation of the Off
GERS OF said corporation shall be fixed by the
bylaws. The bylaws of said corporation
shall be adopted by the stockholders at their
hrst annual meeting, or at special meeting
10 be called for that purpose, and shall be
changed, altered or amended only at an an
nual meeting of the stockholders OF at a spe-
cial meeting called for that purpose, but the
first board of directors may adopt bylaws
which shall continue in force until bylaws
shall have been adopted by the stockholders,
as hereinbefore provided.
The first board of directors of said CORPORA
ton shall consist of William H. Grant John
T. Knowles, Fred A. Hodge and James Hur-
ley, and William II. Grant, Jr, of whom
William Ell. Grant shall be president and
John P. Knowles shall be secretary and treas
urer of said corporation, and shall hold their
offices until the next annual meeting of the
stockholders and until their successors are
elected and qualified.
In witness whereof we have hereunto set
our hands and seals this 9th day of Septem-
Der, 1887.
WILLIAM Fl. GRANT, [Seal.l
JOHN P. KNOWLES, fSeal,1
FRED A. HODGE, fSeal1
JAMES HURLEY fSeal.t
In presence of
II. H. HERBsT,
La FAYETTE SHAW.